On August 15th, 2022, MagMutual (headquartered in Atlanta) and MDAdvantage (based out of New Jersey) reached an agreement for MagMutual to acquire MDAdvantage. The acquisition was finally approved in the state of New Jersey on December 19th, 2022, and completed on January 1st, 2023, just in time for MagMutual to ring in the new year.
An email to policyholders of the expanded MagMutual was released on 1/3, assuring them that the MDAdvantage branch will remain seated in New Jersey to continue servicing the region under the MagMutual name.
While it is standard for changes to start taking place after a corporate acquisition, all signs seem to point calm waters and an unchanged experience for policyholders for the foreseeable future. In MagMutual’s official press release, the outgoing CEO of MDAdvantage stated, “I am certain that the policyholders who have been loyal to MDAdvantage for the past 20 years will find the transition to MagMutual to be seamless.”
TJ is a marketing specialist at Ethos Insurance Inc. He has an extensive background in music, food, and tech, and has recently made the switch to professional liability insurance. When he's not writing copy over at Ethos TJ can usually be found climbing a rock wall or playing with a 3D printer.